Ctg entrepreneur sues S Alam, ex-Islami Bank DMD over Tk29cr embezzlement
The plaintiff's lawyer said the court has accepted the complaint and ordered an investigation by the Criminal Investigation Department (CID)
A case has been filed against S Alam Group Chairman Saiful Islam and former deputy managing director (DMD) of Islami Bank Bangladesh Akij Uddin on allegations of embezzling Tk29 crore from a woman entrepreneur in Chattogram through fraudulence.
Nazmee Nowroz, the entrepreneur, filed the case with the court of Chattogram Metropolitan Magistrate Abu Bakar Siddique on Thursday.
"The court accepted the plaintiff's statement and directed the Criminal Investigation Department (CID) to investigate it," her lawyer Subhankar Ghosh told The Business Standard.
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According to the case statement, Nazmee Nowroz took Tk2 crore in loans from the Kazir Dewri women's branch of First Security Islami Bank in 2011. Later, in phases, she took a total of Tk30 crore in loans from the same bank to expand her business.
As an entrepreneur, she took the loans with the help of Saiful, the former chairman of First Security Islami Bank, and his personal secretary Akij Uddin, who later became a DMD of Islami Bank.
Saiful and Akij, however, misappropriated Tk29 crore from her through the use of blank cheques submitted against her loans, as well as through borrowing from her directly, she alleged.
Nazmee further alleged that she was threatened to be abducted as she asked for the amount on 22 July.
Meanwhile, Saiful has reportedly obtained citizenship of Singapore and did not return home following the fall of Sheikh Hasina-led Awami League government on 5 August, while Akij Uddin is currently absconding.
There are allegations that business ventures by Nazmee – La Aristocracy restaurant, Nilima Nil Agro Ltd and Nowroz Enterprise owe three branches of First Security Islami Bank a total of Tk234 crore as unpaid loans, along with interests, as of October this year.
Of the businesses, La Aristocracy restaurant is solely owned by Nazmee. While obtaining the loans for Nilima Nil Agro Ltd, she allegedly used the names of a storekeeper of the restaurant as the chairman and a female acquaintance as the managing director of the company.
Similarly, while obtaining the loans for Nowroz Enterprise, she used the names of a female peon of First Security Islami Bank and her husband as top management.
Of the businesses, the La Aristocracy restaurant was closed this year
